Saving for Retirement: Advice for Young (and Not-So-Young) Workers

The US Department of Labor blog recently included a post entitled “Saving for Retirement: Advice for Young Workers.” The piece illustrates how investing earlier in your career pays off in a big way. 

In their “Top 10 Things Everyone Should Know about Saving for Retirement,” describes the payoff of long-term investing a little more boldly: “Compounding interest is so powerful it’s almost magical.” Their Top Ten list includes a number of tips, tools, and useful resources.

Among other things, Lifehacker advises readers not to miss out on an employer’s matching contribution. That advice becomes even more valuable for SHARE members next year, when UMass Memorial doubles its match, as described in the Pension Reform section on page 3 of the most recent SHARE-UMMHC Contract Agreement.